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Mitsubishi Hitachi Fossil Power Joint Venture Concluded

February 3, 2014

In Japan, Mitsubishi Hitachi Power Systems, Ltd. ("MHPS"), a thermal power generation systems company jointly established by Mitsubishi Heavy Industries, Ltd. ("MHI") and Hitachi, Ltd. ("Hitachi"), announced its launch and commencement of business operations on February 1. The new venture, MHPS combines the global fossil business of both companies.

First announced on November 29, 2012, the two firms have transferred their respective global thermal power generation operations into a new joint venture through a company split where MHI now holds a 65% equity interest and Hitachi holds 35% in the new merged entity. This historic merger combines 150 years of technology leadership in power generation solutions. Through the joined talent and resources, the mission of the new joint venture is to bring its superior technological products to broader markets rapidly and cost effectively, and with greater project execution and service support. The merger will deliver an expanded, broader portfolio of power generation products and solutions.

Focus in Americas!

The collective presence and product lines in the Americas will be expanded, and the new company in the Americas will be named Mitsubishi Hitachi Power Systems Americas, Inc. ("MHPSA"). Our new MHPSA family will include the operations formerly known as Mitsubishi Power Systems Americas, Inc. headquartered in Lake Mary, FL, Hitachi Power Systems America, Ltd. which will be renamed Mitsubishi Hitachi Power Systems America - Energy and Environment, Ltd. located in Basking Ridge, NJ, Mechanical Dynamics & Analysis, Ltd. (MD & A) based in Latham, NY, Hitachi Power Systems Canada Ltd., renamed as Mitsubishi Hitachi Power Systems Canada Ltd., and our minority interest in Advatech, LLC. Also included will be entities across the Western Hemisphere located in Canada, Puerto Rico, Mexico and Venezuela.

The extensive network of key MHPSA family North American manufacturing and service facilities are located in Orlando, FL; Savannah, GA; Houston, TX; St Louis, MO; and Saskatoon, Alberta, Canada.

About Mitsubishi Hitachi Power Systems Americas, Inc.

Mitsubishi Hitachi Power Systems Americas, Inc., (MHPSA) formerly known as Mitsubishi Power Systems Americas, Inc., was established in 2001 and is headquartered in Lake Mary, FL with key operations in Orlando, FL, Savannah, GA and Houston, TX. MHPSA provides a wide variety of products and services for the electric power generation industry including gas, steam, and geothermal turbines, and selective catalytic reduction systems. The company's parent is Mitsubishi Hitachi Power Systems, Ltd. (MHPS) in Japan. Learn more at www.MHPowerSystems.com.